Royal London Asset Management Ltd. Increases Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Royal London Asset Management Ltd. increased its position in Tractor Supply (NASDAQ:TSCO) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,509 shares of the specialty retailer’s stock after acquiring an additional 559 shares during the quarter. Royal London Asset Management Ltd. owned about 0.06% of Tractor Supply worth $18,767,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply in the first quarter worth $26,000. LRI Investments LLC bought a new position in Tractor Supply in the 1st quarter worth about $28,000. Rise Advisors LLC raised its holdings in shares of Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 66 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in shares of Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on TSCO. Wells Fargo & Company increased their price target on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Wedbush restated a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Loop Capital lifted their price target on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Tractor Supply in a research report on Thursday, July 25th. Finally, Truist Financial boosted their target price on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply has a consensus rating of “Hold” and a consensus target price of $256.72.

Tractor Supply Price Performance

Shares of TSCO stock opened at $276.25 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $290.38. The firm has a market cap of $29.80 billion, a P/E ratio of 26.90, a P/E/G ratio of 3.40 and a beta of 0.80. The business’s 50 day moving average price is $265.80 and its 200-day moving average price is $265.42.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting analysts’ consensus estimates of $3.93. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.83 earnings per share. On average, equities research analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 42.84%.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.